The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes sound financial and economic decisions through community development and education programs.

New York Fed Earns Recognition for Best Practices in Building Operations Management

June 27, 2011

NEW YORK—The Federal Reserve Bank of New York today was
awarded recognition for best practices in efficient building management by
the Building Owners and Managers Association (BOMA) at an event in Washington,
D.C. The BOMA 360 Performance Building designation recognizes commercial
properties that demonstrate best practices in all major areas of building operations
and are managed to the highest standards of excellence. The award recognizes
the New York Fed’s locations main headquarters in the Financial District and
East Rutherford Operations Center (EROC) in East Rutherford, New Jersey.

"The New York Fed is committed to maintaining the highest
level of industry standards across all building operations,"said
Thomas Reilly, vice president of real estate and general services at the Federal
Reserve Bank of New York. "We are proud to be recognized
for this achievement in building operations best practices."

The following initiatives led to the Bank’s recognition by BOMA:

Efficient energy and water usage: Benchmarking
the building's energy and water consumption against the Environmental Protection
Agency’s Portfolio Manager in order to identify efficiencies in energy
and water usage.

Renewable energy: Conducting a renewable energy
study to determine the effectiveness of installing solar or other on-site
renewable energy sources.

Security: Establishing advanced evacuation drills
and documented security procedures and preparation programs for all building
occupants.

Prevention: Implementing an advanced preventative
maintenance and tracking program to lower environmental and economic risks.

Green: Increased use and documentation of "green" cleaning
supplies.

Community programs: Offering an extensive array
of community involvement programs focused on mentoring, job skills and
reading.

BOMA recognizes excellence in the following areas: building operations
and management, environmental sustainability, life safety and security, community
involvement and training and education.

About the Federal Reserve Bank of
New YorkThe Federal Reserve Bank of New York is one of 12 regional Reserve
Banks, which together with the Board of Governors in Washington, D.C., make
up the Federal Reserve System. The Federal Reserve is an independent governmental
entity created by Congress in 1913 to serve as the central bank of the United
States. The New York Fed oversees the Second Federal Reserve District, which
includes New York State, the 12 northern counties of New Jersey, Fairfield
County in Connecticut, Puerto Rico and the U.S. Virgin Islands.

The New York Fed’s building, located at 33 Liberty Street in lower
Manhattan was completed in 1924 and has been renovated over the years to maintain
and exceed building operations best practices. The East Rutherford Operations
Center (EROC) in New Jersey, located at 100 Orchard Street, was constructed
in 1992.